Healthcare of Ontario Pension Plan Trust Fund Takes $2.14 Million Position in OUTFRONT Media Inc. $OUT

Key Points

• Healthcare of Ontario Pension Plan Trust Fund acquired 80,600 OUTFRONT Media shares worth approximately $2.14 million in the first quarter. Several other institutional investors also increased their positions, including Goldman Sachs, which owns nearly 5 million shares.
• Analysts remain broadly positive, with six Buy ratings and one Hold rating. OUTFRONT Media has a consensus “Moderate Buy” rating and an average price target of $32.57, while several analysts set targets as high as $38.
• OUTFRONT Media reported quarterly EPS of $0.34, beating estimates of $0.28, while revenue rose 10% year over year to $429.6 million. The company also maintains a quarterly dividend of $0.30, or $1.20 annually, for a 3.8% yield.

Healthcare of Ontario Pension Plan Trust Fund bought a new position in OUTFRONT Media Inc. (NYSE:OUT - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 80,600 shares of the financial services provider's stock, valued at approximately $2,136,000.

Other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC boosted its position in OUTFRONT Media by 9.3% in the 1st quarter. AQR Capital Management LLC now owns 130,411 shares of the financial services provider's stock worth $2,105,000 after purchasing an additional 11,073 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of OUTFRONT Media by 2.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 85,971 shares of the financial services provider's stock valued at $1,388,000 after purchasing an additional 1,739 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of OUTFRONT Media by 9.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,980,994 shares of the financial services provider's stock valued at $80,393,000 after purchasing an additional 448,993 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of OUTFRONT Media by 12.4% in the 1st quarter. Empowered Funds LLC now owns 21,399 shares of the financial services provider's stock valued at $345,000 after purchasing an additional 2,357 shares during the period. Finally, Woodline Partners LP lifted its stake in shares of OUTFRONT Media by 45.6% in the 1st quarter. Woodline Partners LP now owns 36,888 shares of the financial services provider's stock valued at $595,000 after purchasing an additional 11,559 shares during the period.

Analysts Set New Price Targets

OUT has been the topic of several analyst reports. Morgan Stanley set a $37.00 price target on shares of OUTFRONT Media in a research report on Friday, May 8th. Wall Street Zen downgraded shares of OUTFRONT Media from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 26th. JPMorgan Chase & Co. reissued an "overweight" rating and set a $38.00 target price on shares of OUTFRONT Media in a research note on Wednesday, July 22nd. TD Cowen restated a "buy" rating and set a $38.00 target price (up from $32.00) on shares of OUTFRONT Media in a research report on Tuesday, May 12th. Finally, Barrington Research set a $38.00 price target on OUTFRONT Media in a research note on Tuesday, May 12th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $32.57.

Insider Activity at OUTFRONT Media

In other OUTFRONT Media news, EVP Richard H. Sauer sold 5,000 shares of OUTFRONT Media stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $32.08, for a total transaction of $160,400.00. Following the sale, the executive vice president owned 56,947 shares of the company's stock, valued at $1,826,859.76. The trade was a 8.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP James Michael Norton bought 4,130 shares of the company's stock in a transaction dated Thursday, June 11th. The shares were acquired at an average cost of $30.81 per share, with a total value of $127,245.30. Following the acquisition, the executive vice president directly owned 4,130 shares of the company's stock, valued at approximately $127,245.30. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold 20,000 shares of company stock valued at $629,600 over the last quarter. 0.45% of the stock is owned by company insiders.

OUTFRONT Media Stock Down 0.2%

OUT opened at $31.87 on Friday. The company has a market cap of $5.61 billion, a PE ratio of 30.35, a price-to-earnings-growth ratio of 1.52 and a beta of 1.48. OUTFRONT Media Inc. has a twelve month low of $16.64 and a twelve month high of $34.96. The company has a 50-day moving average price of $32.18 and a 200 day moving average price of $29.36. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 3.90.

OUTFRONT Media (NYSE:OUT - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.06. OUTFRONT Media had a return on equity of 30.36% and a net margin of 9.98%.The company had revenue of $429.60 million for the quarter, compared to analysts' expectations of $431.44 million. During the same period in the previous year, the firm posted $0.14 EPS. OUTFRONT Media's revenue was up 10.0% compared to the same quarter last year. Sell-side analysts expect that OUTFRONT Media Inc. will post 2.11 earnings per share for the current fiscal year.

OUTFRONT Media Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.8%. OUTFRONT Media's payout ratio is currently 114.29%.

OUTFRONT Media Profile

OUTFRONT Media Inc is a leading out-of-home (OOH) advertising company offering a broad range of billboard, transit and digital display solutions across major urban markets in the United States and Canada. Its portfolio encompasses traditional static billboards, high-resolution digital signage, transit media on buses, trains and taxis, as well as street furniture placements such as bus shelters, kiosks and urban panels. The company partners with brand marketers to deliver high-impact campaigns that engage consumers outside the home environment.

Through an extensive network of assets in key metropolitan areas, OUTFRONT provides advertisers with premium visibility along highways, city streets and transit corridors.

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